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The average 401 (k) balance among near-retirees. Vanguard reports that the average 401 (k) balance among Americans aged 55 to 64 is $244,750. However, the median 401 (k) balance among that age ...
Age 25 and younger. Average 401 (k) balance: $7,351. Median 401 (k) balance: $2,816. The median balance for people just getting started in their careers is $2,816 . That means half of 401 (k) plan ...
Many 401(k) plans offer matching contributions, where the employer will match a worker's savings -- usually up to a certain percentage of the employee's salary. This can amount to thousands of ...
The report includes a breakdown of account balances among Vanguard 401(k) participants, separated by age. Among all workers across generations, the average 401(k) balance is $134,128, according to ...
In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401 (k) plans ...
65 and older. $272,588. $88,488. All age groups. $134,128. $35,286. Data source: How America Saves 2024, Vanguard. Truth be told, it might be surprising that the average 401 (k) balance for those ...
In the latest report released in 2024, Vanguard found the average 401(k) balance across all age groups is $134,128. For those aged 35 to 44, however, the average balance is much lower at $91,281.
The average 401(k) match is 50% of an employee's contributions up to 6% of their wages, according to Vanguard's report. If you're earning, say, $70,000 per year, that amounts to around $2,100 per ...
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